Bessemer Group Inc. Has $1.56 Million Stake in Colgate-Palmolive Company (NYSE:CL)

Bessemer Group Inc. decreased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,614 shares of the company's stock after selling 27,740 shares during the period. Bessemer Group Inc.'s holdings in Colgate-Palmolive were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CL. Brighton Jones LLC grew its holdings in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after acquiring an additional 450 shares during the period. Bernard Wealth Management Corp. acquired a new stake in Colgate-Palmolive during the 4th quarter worth $36,000. Whipplewood Advisors LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth $66,000. Kovack Advisors Inc. grew its holdings in Colgate-Palmolive by 4.6% during the 4th quarter. Kovack Advisors Inc. now owns 4,653 shares of the company's stock worth $423,000 after acquiring an additional 203 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Colgate-Palmolive by 4.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 38,269 shares of the company's stock worth $3,479,000 after purchasing an additional 1,551 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $88.80 on Friday. The firm has a 50-day moving average price of $90.86 and a two-hundred day moving average price of $90.59. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. The company has a market capitalization of $71.97 billion, a P/E ratio of 25.09, a P/E/G ratio of 4.71 and a beta of 0.38.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. Colgate-Palmolive's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. Analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its board has authorized a share repurchase plan on Thursday, March 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.76%.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group lifted their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Barclays cut their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $101.69.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.